Kevin Mullaney quoted in International Business Times article “Target CEO Steinhafel Gets Millions For His Voluntary Departure, But Would Have Received More Had He Been Fired”

Kevin was asked to comment on the resignation of Target CEO Gregg Steinhafel.

There’s probably more there that we don’t know,” said Kevin Mullaney, president of The Grayson Company, a New York City-based retail industry consultancy. “It’s probably the best deal he would have gotten. He took the blame and responsibility. … If you look at Gregg’s tenure, Target’s revenues increased, but the net incomes have stagnated.”

Revenue has increase 11 percent to $74.8 billion between fiscal years 2010 and 2014, while net income has fallen nearly 12 percent to $2.19 billion in the same period of time.

Mullaney says it’s difficult to tell whether Steinhafel is departing mainly because of the massive data breach in December that the company said may have affected “millions of customer credit and debit card records,” or because of Target’s $941 million losses last year in its Canadian expansion.

Check out the rest of the article at International Business Times.